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Photronics (NASDAQ:PLAB) was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, reports.

Shares of Photronics (NASDAQ:PLAB) opened at 8.55 on Thursday. Photronics has a 52-week low of $7.20 and a 52-week high of $9.75. The stock has a 50-day moving average of $8.37 and a 200-day moving average of $8.54. The company has a market cap of $527.4 million and a P/E ratio of 19.08.

Photronics (NASDAQ:PLAB) last announced its earnings results on Tuesday, August 19th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.05 by $0.02. The company had revenue of $124.90 million for the quarter, compared to the consensus estimate of $122.53 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 13.9% on a year-over-year basis. On average, analysts predict that Photronics will post $0.22 earnings per share for the current fiscal year.

Photronics, Inc (NASDAQ:PLAB)is a manufacturers of photomasks, which are precision photographic quartz plates containing microscopic images of electronic circuits.

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